The US could lose its crown as the world's largest economy. Unlikely to ever get it back

The US could lose its crown as the world's most powerful economy as soon as next year, and it's unlikely to ever get it back

A lot if us have been saying this for years, but it’s happening faster than most of us thought. I think now more than ever, US companies have to start bringing their IP back to the US and do more here instead of giving it away. Many people have scoffed at the US bringing jobs back, which is partially tru, but through automation we can at least bring back manufacturing and intellectual property. It’s a rude awakening for many companies but exploiting other nations workforce was never a sustainable proposition.

The US could lose its crown as the world's biggest economy as soon as next year, according to data from Standard Chartered.Once it falls behind China, it is unlikely to ever regain the top spot, and by 2030 it could also be behind India.By 2030, the bank said, Asian gross domestic product will account for roughly 35% of global GDP, up from 28% last year and 20% in 2010.Seven of the world's 10 largest economies could be in Asia in the next decade.

The US had a great run in China. First by exploiting their workforce, then as their economic status improved, by selling it our goods and services.
Now, they have the expertise to build all these for themselves. There is a well earned pride and patriotism there to buy Chinese products by Chinese manufacturers. And we are seeing foreign brands like Apple start to see sales drops and start to worry.

Sure their economy is slowing and we are an interconnected world, but I don’t see foreign brands such as Apple or Ford or Google ever being the only ones to fill the vacuum as they once were to the soon to be largest economy in the world.

Don’t get me wrong, I think it’s a good thing. We needed a good kick in the pants and our arrogance will soon turn to healthy competition and diversity.